Monday, October 22, 2007

Junior Trader

Boutique Asset Management Firm in mid-town is seeking a Junior Trader in our Money Fund Trading Department. Initially, the job will be routine clerical work involving overnight repurchase agreements, handling of trade problems, learning the computerized trading system and learning the basics of money market investing including the instruments and regulatory requirements. The position may eventually lead to the position of portfolio manager/trader.

Each individual portfolio manager/trader is responsible for an assigned group of money market funds ranging in total number from three to four separate funds, and including both taxable and tax-exempt funds. The individual is responsible, within fixed constraints, for selecting the appropriate security to purchase or sell for each fund. The amount of work is driven by cash flow into and out of the funds, and market forces such as the interest rate environment and the availability of appropriate securities. The entire Department works as a team to ensure that all relevant offerings of securities are seen by all portfolio managers. The compliance constraints are set by the SEC rule 2(a)7 (amended), internal credit criteria, the individual fund’s prospectus, and the investment decisions approved at the weekly Investment Committee Meeting. The job, therefore, provides a certain level of satisfaction for people who are willing to make decisions and accept responsibility for those decisions. The performance of each fund is measured against a benchmark peer group on a weekly basis. There is also a great deal of individual administrative work such as filing, trade ticket input or write up, reconciliation of holdings, and trade problems. In addition, there are occasional special projects that need to be done such as answering sales/client relations questions, answering questionnaires and preparing Board meeting information.

The applicant must be detail oriented, good with numbers, flexible, able to work under occasionally stressful circumstances, and able to work in a lively group environment.
The initial hours are from 9:00 to 5:00.

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